• FxWirePro: USD/THB hovers around 31.22 Mark, consistent close above requires for upside rally

    Source: FxWire Pro - Technicals / 18 Mar 2018 23:35:37   Eastern Standard Time

    • USD/THB is currently trading around 31.22 marks.
       
    • It made intraday high at 31.25 and low at 31.20 marks
       
    • Intraday bias remains neutral till the time pair holds key support at 31.17 mark.
       
    • On the top side, key resistances are seen at 31.30, 31.50, 31.59, 31.75, 31.92, 32.00, 32.13, 32.28, 32.39, 32.46, 32.61 and 32.85 marks respectively.
       
    • Alternatively, a daily close below 31.22 will drag the parity down towards key supports around 31.08, 31.01 and 30.83 marks respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take short position in USD/THB  only below 31.17, stop loss at 31.32 and target of 31.08/30.83.

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